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Midas Gold Corp.
Summary
| Project: | Stibnite Gold Project | |
|---|---|---|
| Deposit: | Hanger Flats | |
| Location: | United States | |
| Commodities: | Gold-Silver-Antimony | |
| Date: | 9/7/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 7-9-2017: Midas Gold Corp. announces an Exploration/Drilling Update report for its Hanger Flats deposit at the Stibnite Gold Project project. Drilling results incl. 50.3m @ 3.22g/t Au, 36.1g/t Ag, 1.22% Sb from 107.3m. VANCOUVER, BRITISH COLUMBIA – Midas | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen P. Quin (Internal) | |
| ABSTRACT: | VANCOUVER, BRITISH COLUMBIA – Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX) today provided additional results from its 2017 drilling program at the Stibnite Gold Project, Idaho. The drilling program was designed to enhance the mineral resources defined in the December 2014 preliminary feasibility study (“PFS”), and to undertake geotechnical testing of pit walls and infrastructure areas. Positive results from the final two holes in the resource optimization program, completed at the Hangar Flats deposit, are reported below. These most recent results comprise assays from two HQ diameter oriented core holes totalling 483 meters (1,585 feet) drilled for infill and mineral resource conversion purposes, and a single HQ diameter core hole totaling 107 meters (351 feet) drilled for geotechnical purposes. “Our drilling program, initiated in September 2016, continues to provide positive results that support Midas Gold’s goal of enhancing mineral resources prior to feasibility level engineering for the Stibnite Gold Project,” said Stephen Quin, President & CEO of Midas Gold Corp. “These latest intercepts from the Hangar Flats deposit further demonstrate the potential to upgrade inferred mineral resources within the PFS pit limits from a cost centre to a source of revenue. Inferred mineral resources were previously treated as development rock in the PFS project economics, as required under NI43-101. The higher-grade nature of these intercepts should provide an attractive margin if these areas are classified as mineral reserves in the feasibility study currently in process.” | |
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